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Application of Blue Ocean Strategy for MSME Business Development: Literature Study

Author

Listed:
  • Kelvin Leo

    (Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia)

  • Heru Santosa

    (Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia)

  • M. Rofih

    (Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia)

  • Nicholas Panggabean

    (Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia)

  • Yudi Prastyo

    (Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia)

Abstract

This study examines the application of the Blue Ocean Strategy (BOS) in developing Micro, Small, and Medium Enterprises (MSME) businesses. Through a comprehensive literature review and qualitative analysis of recent scientific and business journals, this study found that BOS can be an effective strategy for MSMEs to create a new market free from competition. This research was conducted by collecting and analyzing various relevant literature sources. By implementing BOS, MSMEs can identify and eliminate unnecessary factors, enhance existing aspects, and create new unique values for consumers. This study also discusses the potential challenges faced by MSMEs in implementing BOS, such as consumer understanding, implementation difficulties, and competitor growth. The results of the study show that BOS can increase the competitiveness and development of MSME businesses if implemented appropriately and innovatively.

Suggested Citation

  • Kelvin Leo & Heru Santosa & M. Rofih & Nicholas Panggabean & Yudi Prastyo, 2024. "Application of Blue Ocean Strategy for MSME Business Development: Literature Study," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(7), pages 1598-1605, July.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:7:p:1598-1605
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